A trader works on the trading floor of the New York Stock Exchange on December 2, 2024.
Brendan McDermid | Reuters
Stock index futures were muted on Sunday night, with the Dow Jones Industrial Average falling for a seventh straight day in a week ahead of a key central bank meeting.
Futures and Dow Jones Industrial Average It rose 31 points, or less than 0.1%. S&P 500 Index Futures The increase was less than 0.1%. Nasdaq 100 Futures The decline was less than 0.1%.
Stocks are coming off a sluggish week. this Dow Chemical It fell 1.8% last week and has fallen in each of the past seven sessions. this S&P 500 Index It fell 0.64% and has retreated in four of the past five trading days. this Nasdaq Index Outperformed, rising 0.34% for the week.
Stocks surged following President-elect Donald Trump’s victory in November, but have appeared to revert to a narrow range led by technology stocks in recent days.
“The breadth that we saw is really starting to dissipate a little bit. It’s becoming a more concentrated rally within a few names. I don’t know how long this will last, but there’s at least a chance that it will continue,” said Joe Schwab, chief trading and derivatives strategist. Joe Mazzola on Friday’s “Closing Bell: Overtime.”
The main focus this week is the Federal Open Market Committee’s meetings on Tuesday and Wednesday, where Fed officials are widely expected to cut their benchmark interest rate again.
Investors will get some latest economic data on Monday, with preliminary PMI data due out before the market opens.
And at the individual stock level, micro strategy Changes may be coming to Bitcoin brokers after they were announced as new members of the Nasdaq 100 Index.
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